Bitcoin is still exposed to further fall and must have over USD 102,000 to remain on the right track to a potential reflection, cryptographic analysts say.
Bitfinex analysts he said In a report from the market on Tuesday, that if Bitcoin (BTC) “may persist above the region 102,000 – 103,000 USD at all times, this would suggest that the market effectively consumes sales pressure.”
Bitcoin potential bold game with a lot
Analysts said that “some minus risk still persists” for Bitcoins among macroeconomic variability and military escalation between Israel and Iran, but this is high rates, but potentially satisfying opportunities for investors.
“This environment now reflects the chance of high risk, high prizes for continuation of growth, if the buyer returns,” said analysts. Meanwhile Crypto Trader Matthew Hyland he said On X this “uncertain price action, but still in relation to BTC”.
There was powerful optimism that Bitcoin would complete its highest level of USD 111,940 last week, which was stitched after Israel carried dozens of Iran raids on Thursday evening.
In the next 90 minutes after the news about the bombing of Israel, Bitcoin fell by 2.8% from USD 106 042 to USD 103,053, before at the time of publication up to USD 104,290 According to to Coinmarketcap.
Despite the macro uncertainty, funds with the Bitcoin exchange still recorded a powerful influx throughout the week, reaching six consecutive shopping days in a row of June 16, and USD 412.2 million appeared, According to to distant data.
Bitcoin will not fall as quickly as last year
Bitfinex analysts have found that even if Bitcoin trends lower, the decline will not be as steep as in previous years. In August, Bitcoin fell by about 20% to USD 53,991 in just 10 days.
On July 1, he marks the beginning of the third quarter, which was historically the weakest period for Bitcoins in terms of average returns since 2013, According to For data from Kinglass.
By giving a more stubborn forecast, the analysts found that the current market conditions “also resemble earlier configurations based on surrender, which usually result in a Bitcoin reversal course shortly after aggressive sales.”
However, some analysts believe that the price of bitcoins can be plateau for now. Crypto trader Daan Crypto Trades he said In post X on Tuesday, “Bitcoin fought to break the current region of all time and got stuck for now.”
Daan said that the long -term Bitcoin trend “was very clean”, but is watching the bull market support team to determine the next Bitcoin movement.
“The cycle has been going on for a long time, so sticking to the bull market support team will be crucial for maintaining the pace of this cycle,” said Daan.
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EY strategist and cryptographic trader Danny Marques offered more hopeful perspectives, statement“The current movement has a significant place to expand structurally, momentum and mentally.”
“Bitcoin did not even enter the euphoric zone,” said Marques.
However, although many participants of the cryptographic market – including Michael Saylor from the strategy – expect Bitcoin to avoid the next cryptographic winter, some analysts remain skeptical.
“It is very likely that the bulls will perform after this market,” Crypto Trader Rekt Capital he said.
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This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
